The Cronulla Sharks have accepted the NRL's sanctions after the governing body completed its investigation into the club's salary cap cheating.
The NRL fined Cronulla $750,000 after the club were found to have set up a company to procure third-party payments for players, with salary cap irregularities found dating back to 2013.
But $500,000 of that fine was suspended due to Sharks CEO Barry Russell's decision to self report an original discrepancy - worth about $50,000 - in June last year.
Cronulla must also play the next two seasons $350,000 under the salary cap and will be forced to shed a player before round one kicks off in a fortnight to become cap compliant.
The Sharks had their $800,000 fine for engaging with former coach Shane Flanagan during his 2014 suspension slashed to $500,000 for the club acknowledging and accepting its wrongdoing.
Flanagan's deregistration will continue indefinitely with NRL CEO Todd Greenberg saying Flanagan would not be considered to return in the short term after being found to have continued to communicate with the club while suspended for his role in Cronulla's ASADA scandal.
“We now have best governance practices, have learned some hard lessons during this process and I’m confident the systems we have in place will ensure this doesn’t happen again,” Russell said.
“By applying discounts to the fines imposed, a reduction of $300,000 on appeal to our original 2014 fine of $800,000 and $500,000 of the $750,000 suspended on the salary cap breach, we acknowledge the NRL for recognising our self-reporting and our continued cooperative approach with their subsequent investigations.
“We have no plans to appeal, will deal with the consequences of the fines and punishments and take the positive in that we can now move ahead into the new season and into the future with these matters behind us."
Cronulla's historic maiden premiership is safe, with the NRL stating the club were under the salary cap in 2016.
While some may consider the reduction in fines lenient, it is unclear how harshly the penalties will affect the club who are already reeling from a reported $3million loss for 2018 and still without a lucrative front of jersey sponsor.
Sharks management and coaching staff will take guidance from the club's salary cap and recruitment managers to ensure the club are salary cap compliant before their scheduled round one clash with the Knights in Newcastle on March 15.
